Must-Read: Òscar Jorda, Moritz Schularick, and Alan M. Taylor: Leveraged Bubbles: “The critical assumption was that central banks would be in a position to manage the macroeconomic fall-out…. They could clean-up after the mess. While the aftermath of the dotcom bubble seemed to offer support for this rosy view of central bank capabilities, the 2008 … Continue reading Must-Read: Òscar Jorda et al.: Leveraged Bubbles